Turkish economist to pioneer energy report

PARIS - Anatolia News Agency

Fatih Birol. REUTERS photo

The International Energy Agency’s (IEA) chief economist Fatih Birol is holding talks with high-level Iraqi officials Feb. 27 to 29 in Baghdad and together with his team will publish a report titled “Iraqi Energy Strategy,” defining the country’s energy policy, in October 2012.

The report will cover all aspects of Iraq’s energy sector and is supported by Iraqi Deputy Prime Minister for Energy Affairs Hussein Ibrahim Salih al-Shahristani.

“It will take 20 years for Iraq to increase its daily production to 8 million barrels. The officials I talked with in Baghdad plan to produce 6.5 million barrels of oil per day by 2015. I think that this goal can be reached,” Birol told the Anatolia news agency.

However, Birol indicated serious obstacles existed. The realization of this aim depended on other world oil markets, he said.

Development in the Iraqi energy sector is crucial for Turkey. The developments in the oil and natural gas sectors will enable Turkey to trade resources with Europe and other countries, Birol said.

Many Turkish companies have invested in the production of oil, natural gas and electricity in Iraq.